This well-maintained home sits on a large corner lot with attractive landscaping, beautiful perennials, and excellent curb appeal. Enter the foyer and proceed to the main level, featuring a wonderful updated open floor plan filled with natural sunlight. The spacious living room is an inviting gathering area for family and friends, showcasing hardwood flooring and a stunning triple bay window. The beautifully updated kitchen is a dream for any home chef, complete with quartz countertops, ample cabinetry, and a center island with an overhang—perfect for counter seating. Newer stainless steel appliances include a gas range with double oven, microwave, refrigerator, and dishwasher. Enjoy meals in the spacious dining area adjacent to the kitchen, highlighted by two large corner windows and an additional window over the sink, filling the space with natural light. A pantry closet adds convenience and flexible storage options. Step outside from the dining area onto a spacious deck with a covered overhang—ideal for relaxing, reading, or entertaining. Stairs lead down to the backyard, offering even more space for gatherings. Down the hallway are three generously sized bedrooms. The primary bedroom is bright and inviting, featuring multiple windows, a ceiling fan, and a closet organizer. The hallway updated full bathroom includes a newer vanity, sink, commode, and flooring. The lower level offers a large family room with a charming brick accent wall, a wood-burning fireplace, and a built-in log holder—creating a warm and cozy atmosphere. Adding even more living space is a bright three-season sunroom with abundant windows and access to a large patio with a hot tub—perfect for outdoor enjoyment. The fully fenced backyard provides ample room for entertaining and includes a large storage shed. This level also features a fourth bedroom (currently used as an office), an upgraded full bathroom with a shower stall, a spacious laundry room with extra cabinetry, and additional storage space. A versatile bonus room offers endless possibilities for a workshop, crafts, or play area, along with interior access to the garage. The extra-wide driveway easily accommodates multiple vehicles and allows for convenient turnarounds. Beautiful plantings surround the property, adding to its charm. Lovingly maintained by the current owner, the home also features a newer roof and is conveniently located near major roadways, shopping, dining, and schools.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
